Today, and lasting through the next set of Congressional Hearings on Derivatives this week, we are going to be looking at the “untowards” influence on Congress.

Let’s start out today with a simple interactive graphic:

Wash Influence
via WSJ

>

Source:
Congress Helped Banks Defang Key Rule
SUSAN PULLIAM and TOM MCGINTY
WSJ, June 3, 2009

http://online.wsj.com/article/SB124396078596677535.html

Category: Bailouts, Politics

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

15 Responses to “Financial-Services Organizations Lobbyists Influence”

  1. holulu says:

    This is in the same of line of discussion.
    Bill Moyers interview with Simon Johnson and Rep. Kaptur. This is sickening of what is going on in this country.
    Simon infered that we will have a depression.

    http://www.pbs.org/moyers/journal/10092009/watch.html

  2. “Failed Economic Policies and Rising Unemployment in the United States of America”

    “This past week the BLS released the September unemployment statistics and they worsened as usual, as America enjoys its recovery.

    U-1–Those unemployed 15 weeks or longer, as a percent of the civilian labor force was 5.4%.
    U-2-Job losers and persons who completed temporary jobs, as a percent of the labor force was 6.8%.

    U-3-Total unemployed, as a percentage of the civilian labor force, the official unemployment rate, 9.8%.

    U-4-Discouraged workers 10.2%.
    U-5-Total unemployed plus discharged workers, plus marginally attached workers 11.1%.
    U-6-Total unemployed as a percent of the civilian labor force 17%.

    If the birth/death ratio is removed, U-6 is in reality 21.3% total US unemployment. The estimate is that 824,000, more jobs may be extracted from the payroll count for the 12-months ended next March. Such a revision would be the biggest since 1991. The BLS is underestimating job losses deliberately and has been for a long time. That would mean September’s loss would be some 300,000 not 263,000.

    Such a revision would put job losses not at 4.8 million but 5.6 million jobs.

    This is how government has operated for some time and will continue to as long as we allow them too…”
    http://globalresearch.ca/index.php?context=va&aid=15580
    ~~
    Marines see sharp increase in suicides
    By Mark Abramson, Stars and Stripes
    Mideast edition, Friday, October 9, 2009
    Recently released figures show Marines are taking their own lives at alarmingly high rates, and deployments appear to be taking a toll.
    http://www.stripes.com/article.asp?section=104&article=65267#
    ~~
    Congress, and our Apathy, costs more than U$D..

  3. sickmint79 says:

    no wonder my rep won’t cosponsor ron paul’s hr1207… she’s at the top of this list!

  4. Winston Munn says:

    A couple of quotes out of a Glenn Greenwald Salon article:

    “Democratic Senator, Dick Durbin, who told a local radio station in April: ‘And the banks — hard to believe in a time when we’re facing a banking crisis that many of the banks created — are still the most powerful lobby on Capitol Hill. And they frankly own the place.’”

    “And the single most insightful article on the financial crisis was written by former IMF Chief Economist and current MIT Professor Simon Johnson in the May, 2009 issue of The Atlantic, when he argued that “the finance industry has effectively captured our government” and detailed how the U.S. has become very similar to failed emerging-market nations in both its political and economic culture.”

    Over and over Greenspan supported raiding a solvent Social Security trust fund in order to pay for tax breaks to the wealthy, and afterward argued that Social Security benefits must be reduced to save the fund from collapse and pay for the privilege of redistributing that wealth to his cronies at John Galt and Co.

  5. SINGER says:

    BR

    Since you have alot of readers and get on alot of media outlets, you should always mention this lobbyist issue. Even if its ad nauseum.

    At this point, the only place any change could possibly get started is at the grassroots level…

    Great post along with one at the top….

  6. lalaland says:

    $286,000 a quarter? That’s freakin pathetic! So the banks and their trade groups collectively spend, what, a million/year to corrupt the House of Representatives Financial Services Committee? Maybe another 100k for the Senate Finance Committee? That’s just a little more than an antique commode!

    It should cost at LEAST 100 billion dollars to corrupt the federal government, not a lousy million. Don’t sell yourselves short, congressmen/women!

  7. bsneath says:

    Democrats have sold out to the highest bidder. The party that once represented the poor and oppressed now represents the investment banker and hedge fund. Absolute hypocrites.

  8. some_guy_in_a_cube says:

    A list of the sluttiest hookers in Congress. Do they have a website, I’m feeling horny!

  9. philipat says:

    It would be instructive (But unlikely) if someone in the media would prepare a simple chart comparing donations with voting record on issues related to the interests of major donors?

    I’m pretty sure there will be no surprises there.

    I think someone round here described the model of the ratings Agencies as “Pay to play”. It seems that Congress operates by the same set of “Principles”?

  10. Moss says:

    This is THE issue. We have a very serious political problem that spans everything of consequence.
    I hope that BR and others in the media are relentless in covering this immoral, unethical, shameless and systemic erosion of democracy for the people.

  11. Brookwood says:

    WTF- Even I could give Melissa Bean $2500. Is that all it takes???

  12. jc says:

    I don’t see Ron Paul on the list, wonder why?

  13. jc says:

    MEH, Biderman of Trimtabs has been saying for months that the BLS will have to do a large upward revision at some point to correct their first half 09 (under)estimates of job losses

  14. jc,

    Biderman is another that doesn’t fear the Truth of the Matter.

    see: http://clusty.com/search?input-form=clusty-simple&v%3Asources=webplus&query=Biderman+of+Trimtabs+BLS+upward+revision

    He’s been saying that the BLS #’s are BS, for Years..
    ~~
    more on ‘lobbyist influence’
    http://host.madison.com/wsj/news/local/article_dacf39c7-c2f8-5718-a5a0-d0cfb39f80bc.html
    When the data in this film has been proven to be flawed, cut off the person questioning the flawed data!!

    As reported in:

    ht tp://www.capitalresearch.org/pubs/pdf/v1185475433.pdf
    “Summary: Former Vice President Al Gore’s crusade against carbon dioxide emissions could make him millions of dollars. With helm from friends at Goldman Sachs, Gore has established a network of organizations to promote the ‘climate crisis’ – and keep himself in the spotlight.”
    There you have it; it’s all about the money.

  15. [...] Barry’s doing a bunch of stuff lately on the influence of corporate lobbying on legislation.  Check it: (TheBigPicture) [...]